Global Customer Experience (CX) Outsourcing Services Growth Opportunities

Global Customer Experience (CX) Outsourcing Services Growth Opportunities

Tailored Customer Experiences Bring New Opportunities for Differentiation

RELEASE DATE
24-Jan-2024
REGION
Latin America
Deliverable Type
Market Research
Research Code: 9A5C-00-77-00-00
SKU: IT_2023_541
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Description

The global CX outsourcing services market is expected to expand throughout the forecast period due to the growing recognition of CX as a key competitive differentiator and compelling incentives for businesses to outsource their CX activities.

The market is poised to experience moderate disruption due to the emergence of generative AI technology, which will elevate agents’ productivity and allow companies to leverage self-service to a greater extent without human intervention.

As running CX operations becomes increasingly complex, a growing number of organizations will expand the outsourcing of their services. In addition, shifting to more digital and AI technologies will be a competitive differentiator as outsourcers will have to demonstrate their ability to leverage these technologies for better CX and more value.
Frost & Sullivan expects generative AI to negatively impact the number of full-time employees, but this will be counteracted with new types of customer interactions, resulting in the need to re-skill contact center agents.

As more customer interactions continue to be automated, calls that reach live agents will grow in complexity, leading to an increase in average handle time (AHT). Companies are trying to improve agent productivity by providing the right tools and support, including real-time recommendations, next-best action suggestions, and intelligent routing.

Companies are expecting continuous process enhancement and rapid and constant innovation. As organizations must adapt to changing market conditions, they are looking to partner with nimble CXSPs to speed up time to market. The right mix of people, processes, and technology is the key to success and will help providers bring reliable and agile transformation capabilities to their clients.

Outsourcing helps organizations navigate the challenging competitive environment. It is no longer limited to back-office and support service functions. Organizations partner with CX outsourcing service providers to generate value by streamlining their operations and legacy processes, reducing costs, improving customer centricity, maintaining compliance and regulatory policies, identifying new growth opportunities, and improving profitability.

This study examines the trends in the global CX outsourcing services market; it provides market shares, segmentation, and forecasts for several variables, including revenue by region, industry verticals, and born-digital versus traditional companies. The base year is 2022, and forecasts run through to 2029.

Table of Contents

Global Customer Experience (CX) Outsourcing Growth Opportunities

The global CX outsourcing services market is expected to expand throughout the forecast period due to the growing recognition of CX as a key competitive differentiator and compelling incentives for businesses to outsource their CX activities. The market is poised to experience moderate disruption due to the emergence of generative AI technology, which will elevate agents productivity and allow companies to leverage self-service to a greater extent without human intervention. As running CX operations becomes increasingly complex, a growing number of organizations will expand the outsourcing of their services. In addition, shifting to more digital and AI technologies will be a competitive differentiator as outsourcers will have to demonstrate their ability to leverage these technologies for better CX and more value. Frost & Sullivan expects generative AI to negatively impact the number of full-time employees, but this will be counteracted with new types of customer interactions, resulting in the need to re-skill contact center agents. As more customer interactions continue to be automated, calls that reach live agents will grow in complexity, leading to an increase in average handle time (AHT). Companies are trying to improve agent productivity by providing the right tools and support, including real-time recommendations, next-best action suggestions, and intelligent routing. Companies are expecting continuous process enhancement and rapid and constant innovation. As organizations must adapt to changing market conditions, they are looking to partner with nimble CXSPs to speed up time to market. The right mix of people, processes, and technology is the key to success and will help providers bring reliable and agile transformation capabilities to their clients. Outsourcing helps organizations navigate the challenging competitive environment. It is no longer limited to back-office and support service functions. Organizations partner with CX outsourcing service providers to generate value by streamlining their operations and legacy processes, reducing costs, improving customer centricity, maintaining compliance and regulatory policies, identifying new growth opportunities, and improving profitability. This study examines the trends in the global CX outsourcing services market; it provides market shares, segmentation, and forecasts for several variables, including revenue by region, industry verticals, and born-digital versus traditional companies. The base year is 2022, and forecasts run through to 2029.
More Information
Deliverable Type Market Research
Industries Information Technology
No Index No
Is Prebook No
Keyword 1 CX Outsourcing
Keyword 2 Customer Experience Outsourcing
Keyword 3 Contact Center Outsourcing
Podcast No
WIP Number 9A5C-00-77-00-00